48.90 0.00 (0.00%)
After hours: 7:10PM EST
|Bid||49.01 x 1100|
|Ask||48.91 x 1000|
|Day's Range||48.80 - 49.25|
|52 Week Range||33.47 - 54.31|
|Beta (3Y Monthly)||0.53|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Rivulet Capital, a large investor in Instructure Inc, on Thursday said it will resist the U.S. educational software company's plan to sell itself to private equity firm Thoma Bravo for $2 billion, calling the deal too cheap and too hurried. Rivulet Capital, which owns 5.23% of Instructure, said in a regulatory filing it plans to vote against the transaction. Rivulet is the first large investment firm to speak out publicly on Instructure's plans after other investors had privately and publicly pushed the Salt Lake City-headquartered company to consider selling part or all of itself.
Education software firm Instructure Inc said on Wednesday it would be bought by private equity investment firm Thoma Bravo in an all-cash deal for about $2 billion, giving into pressure from one of its shareholders pushing for a sale. Stockholders of the company will receive $47.60 in cash per share, a discount of about 10% to Instructure's closing price of $52.96 on Tuesday. New York-based Sachem Head Capital Management has been buying Instructure's shares over time, but the exact size of its position could not be determined.
Shares of Instructure Inc. sank 9.2% in premarket trading Wednesday, after the learning and development applications company announced an agreement to be acquired at a discount by private-equity firm Thoma Bravo LLC in a cash deal valued at about $2 billion. Under terms of the deal, Instructure shareholders will receive $47.60 in cash for each Instructure share they own, which is 10.1% below Tuesday's closing price of $52.96. The stock had gained 5% since the company announced on Nov. 14 that it was reviewing strategic alternatives after receiving "interest" from multiple third parties, and has rallied 25% since Oct. 28, when the company reported third-quarter results and said it was engaging in a strategic review of its Bridge business. In comparison, the S&P 500 has gained 1.8% since Oct. 28. The Thoma Bravo buyout deal includes a 35-day "go shop" period, in which the company can solicit alternative merger proposals.
Instructure, Inc. (INST) is looking like an interesting pick from a technical perspective, as the company is seeing favorable trends on the moving average crossover front.
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(Bloomberg) -- Jana Partners has added its name to the list of activist investors that have taken a stake in takeover target Instructure Inc.The New York hedge fund said in regulatory filing it had a 1% stake in the educational software company as of Sept. 30. The news came as Instructure on Thursday confirmed a Bloomberg News report it was exploring strategic alternatives, including possible sale of the company.Representatives for Jana and Instructure weren’t immediately available for comment.Activist investors Sachem Head Capital Management and Praesidium Investment Management Co. have also built stakes in Instructure and have been advocating for a sale, according to people familiar with the matter.Jana, the activist fund run by Barry Rosenstein, also sold down its stake in another takeover target, Axalta Coating Systems Ltd. to 1.7% from 2.5% in the second quarter. It also trimmed its its positions in Zimmer Biomet Holdings Inc., HD Supply Holdings Inc. and restaurant chain, Jack in the Box Inc.The firm exited its investment in Falcon Minerals Corp. during the quarter.To contact the reporter on this story: Scott Deveau in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Liana Baker at email@example.com, Matthew MonksFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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New York-based Sachem Head, which has been buying Instructure's shares over time, wants the Salt Lake City-based company to pursue a full sale process, the sources said. The exact size of Sachem Head's position could not be determined. A spokesman for Sachem Head declined to comment.
Instructure (INST) delivered earnings and revenue surprises of 42.11% and 0.48%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
We are still in an overall bull market and many stocks that smart money investors were piling into surged through October 17th. Among them, Facebook and Microsoft ranked among the top 3 picks and these stocks gained 45% and 39% respectively. Hedge funds' top 3 stock picks returned 34.4% this year and beat the S&P […]
Instructure (INST) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.